I have been told the N-Planners have been given 48 hours to decide whether they want to start paying contributions or suffer an accrual rate cut. Is that true?
If true, it seems disdainful of employee views, over something that is not going to be implemented until April 2005.
Presumably the alternatives have been set so as to be "actuarially equivalent" when taken over all N-Planners but that does not mean that there is no serious choice - one way will be (financially) best for some N-Planners, the other best for others.
How are N-Planners supposed to work this out, when it is a trade-off of money now and money throughout retirement? The usual cop-out of "consult your financial adviser" does not seem to apply with this deadline.
(Not with trustee hat on)